Stands for Free Application for Federal Student Aid. The FAFSA form will help determine eligibility for federal student aid and must be completed yearly.
Much of it can be completed each year that the student is in school. There will be several questions regarding your personal and tax information, so make sure to have these figures readily available to ensure the process goes smoothly in one sitting.
Once you have finished the FAFSA, you will receive a Student Aid Report (SAR). Most of the time, this report will be e-mailed, but you can also receive a paper copy. The federal government will then ask you to take part in Entrance Counseling, for which you will need your PIN and about 30 minutes.
As is the standard with any loan, the next step in the process is the signing of the Master Promissory Note (MPN). This is the agreement between the government and the borrower that the loan will be paid back in the predetermined time allowed.
Completion of the FAFSA is done entirely on the website https://fafsa.ed.gov/
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